MIRA
INFORM REPORT
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Report Date : |
01.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
KA LONG TRADING |
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Registered Office : |
Flat D, 16/F., Costa Del Sol (Phase IIB), Tower 12A, Laguna Verde,
8 Laguna Verde Avenue, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.09.1999 |
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Com. Reg. No.: |
30390926-000-09 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer and Exporter of All kinds of Diamonds and Jewellery |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
KA LONG
TRADING
ADDRESS
Flat D, 16/F., Costa Del Sol (Phase IIB), Tower 12A, Laguna Verde,
8 Laguna Verde Avenue, Hunghom, Kowloon, Hong Kong.
PHONE: 2377 9089
MANAGEMENT
Manager: Mr. Tanmay Achyut Bhatt
SUMMARY
Establishment: 28th September, 1999.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond
Trader.
Employees: Nil.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Fair.
ADDRESS
Head Office:-
Flat D, 16/F., Costa Del Sol (Phase IIB), Tower 12A, Laguna Verde,
8 Laguna Verde Avenue, Hunghom, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
30390926-000-09
MANAGEMENT
Manager: Mr. Tanmay Achyut Bhatt
SOLE PROPRIETOR
Name: Mr. Tanmay Achyut BHATT
Residential Address: 24
Nagardas Park, Old Nagardas Road, Opp. Chinai College, Andheri (E),
Mumbai-400069, India.
HISTORY
The subject was established on 28th September, 1999 as a sole
proprietorship concern owned by Mr. Biren Surendra Parikh under the Hong Kong
Business Registration Regulations.
It became a partnership when Mr. Tanmay Achyut Bhatt joined in as a
partner on 26th June, 2006. The subject
became a sole proprietorship again when Mr. Biren Surendra Parikh retired on
1st September, 2006.
Initially the subject was located at Flat C, 6/F., Bo Yip Building, 6
Ashley Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in
October 2005.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer
and Exporter.
Lines: All
kinds of diamonds and jewellery.
Employees: Nil.
Commodities Imported: India, Belgium Thailand, etc.
Markets: US,
Southeast Asia, the Middle East, etc.
Terms/Sales: As per
contracted.
Terms/Buying: T/T, L/C, D/P, etc.
FINANCIAL INFORMATION
Capital: Not
disclosed.
Profit & Loss: Keeping
a balance account.
Condition: Business is fairly active.
Facilities: Making active use of general
banking facilities.
Payment: Met trade commitments on time.
Commercial Morality:
Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
GENERAL
Ka Long Trading is a sole proprietorship operated by Mr. Tanmay Achyut
Bhatt who is an Indian. He is an India
passport holder and does not have the right to reside in Hong Kong permanently.
The subject does not have its own operating office. Its registered address is in the residence
of the sole proprietor in Hong Kong.
Business commenced in September 1999, the subject is trading in loose
diamonds, precious stones, ruby jade, gem sets, semi-precious stones, etc. Commodities are chiefly imported from
India. Some of the raw diamonds are
polished or processed in Hong Kong or China.
Finished products and jewellery are exported or re-exported to the
United State, the Middle East, and other Asian countries.
The subject is just a one-man-company.
Keeping a balance account most of the time. The subject has no employees in Hong Kong.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on L/C basis.
COURT CASES: None per our.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.09 |
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UK Pound |
1 |
Rs.76.68 |
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Euro |
1 |
Rs.63.48 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)